EU Financial Firms Scramble to Meet Tough New Digital Resilience Rules
Financial firms in the EU are racing to meet new digital resilience rules under the Digital Operational Resilience Act (DORA). A recent survey of around 100 banks, insurers, and ICT providers shows that 97% see digital resilience as crucial by 2028. Yet, only a small fraction feel fully prepared for the changes ahead.
The European Union has introduced DORA to push financial service providers into strengthening their operational resilience. The law demands clear evidence of robust systems—not just one-off fixes. However, many firms have struggled to embed these requirements into their core structures.
A survey revealed that just 12% of respondents rated their digital resilience maturity as 'very high'. While companies have launched various initiatives at an operational level, these efforts remain patchy. Without full integration, firms risk weak verifiability and limited control over their resilience measures.
The gap between awareness and action is clear. With DORA now in force, financial providers must move beyond isolated measures and build resilience into their day-to-day operations. Failure to do so could leave them exposed to compliance risks and operational vulnerabilities.
